Space-age skyscrapers and sheiks: Racing's new world order

By Sheena McKenzie, CNN

Updated 1548 GMT (2348 HKT) March 29, 2013

Dubai World Cup: The world's richest race10 photos

The future of racing? – Welcome to the Meydan Racecourse, home of the Dubai World Cup. Built in 2010 for a whopping $1 billion, the awe-inspiring complex is the glittering crown in Sheikh Mohammed bin Rashid Al Maktoum's racing empire. But can the big money buy prestige?

Space-age – "It's like Old Trafford, the Emirates and Wembley all rolled into one. When they turn the lights on it looks like a spaceship from 'Star Wars,'" said champion Italian jockey Frankie Dettori.

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Dubai World Cup: The world's richest race10 photos

Brave new world – Sheik Mohammed's vision of a thriving Meydan metropolis doesn't stop at the race track. Plans are underway for a nearby retail center, featuring a 40-storey horse-shaped tower.

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Dubai World Cup: The world's richest race10 photos

Sheik it all about – Dubai's ruler, Sheik Mohammed (pictured in green), is an influential figure in the thoroughbred breeding and racing world. The wealthy prime minister owns the country's prestigious Godolphin Stables, along with stud farms in Ireland, Britain, and the U.S.

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Dubai World Cup: The world's richest race10 photos

Money talks – Godolphin horse Monterosso, riden by jockey Mickael Barzalona, won last year's Cup. With $10 million in prize money on offer, it is the world's richest race, attracting the best thoroughbreds on the planet.

Under the spotlight – "There's no gambling allowed here in the Middle East in Dubai, it's against the law and it's against the religion," said Simon Crisford, manager at Godolphin Stables. "It's all about the competition, the spirit of horse racing here is not about the betting."

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Dubai World Cup: The world's richest race10 photos

Challenging climate – The extreme Gulf heat, up to 120 degrees Fahrenheit (48.9 degrees Celsius) at the height of summer, make breeding and racing thoroughbreds a difficult task. "In terms of racing, we have a short lifespan -- from the start of November to end of March," said Dubai World Cup chief executive, Frank Gabriel.

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Dubai World Cup: The world's richest race10 photos

Old world charm – Launched almost 140 years ago, the Kentucky Derby remains one of the most prestigious races in the world.

"The Dubai World Cup is a new event, it's only 17 years old. Some of the other big prestigious races around the world are 200 years old, so it can never compete with the sense of tradition and history. But nevertheless it continues to attract the very best horses," Crisford said.

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Story highlights

Dubai World Cup, world's richest race, kicks off this weekend

More than $27m on offer over 11-day carnival, financed by Sheik Mohammed bin Rashid Al Maktoum

Can futuristic race course compete with prestige of historic derbys?

Part of Gulf campaign to raise international sporting status

Rising from the desert like a space-age skyscraper, there is something equally awe-inspiring and unnerving about the five-star Meydan Hotel.

At night, the sleek glass building glows green and purple, its distinctive crescent roof looming high above the manicured race track below.

It's an opulent and eerily futuristic setting befitting the richest horse race on the planet -- the Dubai World Cup, which kicks off this weekend.

With more than $27 million in prize money on offer over the 11-day carnival, it's little wonder the world's greatest race horses, and their influential entourage, flock every year to the United Arab Emirates.

But can the grand architectural statements and megabucks compete with the prestige of centuries-old races like the Kentucky and Epsom Derby?

It's part of a larger campaign by the oil-rich Gulf to become a premier sporting destination -- and not just for horses.

Qatar will be the first Arab state to host the FIFA World Cup in 2022, while investors across the region continue to buy up European football teams.

Among the big players are the Qatar Investment Authority, which owns France's Paris Saint-Germain, and Kuwaiti businessman Fawaz Al Hasawi, who last year bought English club Nottingham Forest.

Cutting-edge course

Back on home turf in the UAE, the $1 billion Meydan Racecourse -- headquarters of the Dubai World Cup -- is the glittering crown in Sheik Mohammed's racing empire.

The grandstand alone is 1.6 kilometers long, while the site boasts a 285-room luxury hotel with roof-top pool, a marina, racing museum, and IMAX theatre.

"It's over-the-top, it's just gorgeous, everything about it is first class," Romans said of the Meydan Hotel where he is staying before competing in Saturday's race.

"It's almost futuristic -- everything is brand new and spotless with shiny glass and metal."

The high-tech course, which champion Italian jockey Frankie Dettori famously described as "like a spaceship from 'Star Wars," is worlds apart from the classic southern charm of the Kentucky Derby's Churchill Downs.

"You can't buy history," said Romans, who won the Dubai Cup in 2005. "You don't have that deep sense of tradition here that you have at the Kentucky Derby."

History of horses

The Middle East's racing circuit may still be forging a name for itself, but the region's passion for horses is centuries old.

The thoroughbred we know today dates back to three Arab horses brought to Britain around the turn of the 17th century.

"The horse is a very significant part of people's lives here," Gabriel said. "People love the sport and they love the culture -- it's about the beauty of the horse."

Eyes on the prize

Dubai's record prize money, field of world-class horses and impressive backdrop will ensure that the eyes of the world are watching this Saturday.